Cyber Monday is almost as popular as Black Friday in the United States.
The term was first used in 2005 and refers to the Monday after Thanksgiving. It was created as a tool to convince people to shop online- and it worked. That year, 77% of online retailers said that their sales increased substantially on the Monday after Thanksgiving.
Now, just like Black Friday deals are starting on Thanksgiving day to maximize sales, Cyber Monday deals for a lot of retailers are starting on Sunday and extending through the entire week.
Here’s another interesting fact- social media has played a big role in the success and growth of Cyber Monday. Shoppers from Facebook averaged $99.60 per order.
$150 million in revenue came from social media referrals between Thanksgiving and Cyber Monday. Many retailers offer exclusive deals and savings by “following” or “liking” their social media accounts on Facebook and Twitter.
If you own a small business and you're not online or on social media- you are missing out on some major revenue opportunities.
Are you shopping online today? What are some of the best deals out there? We want to hear from you.